Life Insurance

Life insurance is a way to help you provide for your dependents and loved ones in case you pass away. The beneficiary you name receives the proceeds of the policy after you die. You enter into a life insurance contract or policy, which is a legal agreement between you and an insurance company. The policy owner agrees to pay a monthly or annual insurance premium in return for a lump sum of money paid out upon the insured’s death, known as the death benefit.
No one really wants to think about life insurance. But if someone depends on you financially, it’s a topic you can’t avoid. In the event of a unforeseen tragedy, life insurance proceeds can:
• Pay for funeral costs
• Help pay the bills and meet ongoing living expenses
• Pay off outstanding debt, including credit cards and the mortgage
• Continue a family business
• Finance future needs like your children’s education
• Protect a spouse’s retirement plans

Factors influence life insurance premium:
Age
Gender
Coverage Amount
Health/Illness
Smoking Status
Job
Family History